As data collectors get access to personal data throughout the Web2 to Web3 transition, examine data privacy issues. Find privacy solutions for this essential issue.
The gathering of our data and its precise application have been some of the key problems that have dominated the development of Web2. This issue hasn’t been settled, not even as Web2 is drawing to an end and Web3 is getting started.
By 2023, data collectors will be able to track and use every search and click a person does. Even Google knows all about you, including your name, age, gender, background, marital status, and a long list of other details.
Even while there are solutions, including opting out of data brokers completely or erasing your private information from Google search, the issue has received a lot of attention.
The Coming Web3 World
But this is because the Web2 world is centralized and has intermediaries that stand to gain financially from gathering our data and using it for their own ends. But if Web 3.0 were to be used instead, the internet might become decentralized, eliminating the need for middlemen to collect data in the first place.
This sounds fantastic, but it also seems a little bit wishful. Experts anticipate that Web3 won’t be properly deployed until some time in the 2030s, though even this appears like it might be making premature forecasts. We cannot possibly know whether Web3 will be able to address the issue of data privacy.
Consequences Of Cryptocurrency
Obviously, this is where cryptocurrencies come into play. Users with blockchain experience claim that one advantage of cryptocurrencies is the security and privacy that come with their decentralized structure. In fact, blockchain networks, dApps, and even blockchain privacy initiatives have been operating off an early Web3 concept for about ten years. These projects are designed to be reliable and safe.
Can we say, then, that cryptocurrency is demonstrating how the problem might be resolved when blockchain extends to embody the internet?
Yes and no, I suppose. Blockchain is decentralized, so there isn’t a central authority that may abuse data or utilize it for its own ends. This means that a multitude of consensus mechanisms are dispersed to nodes that authenticate and preserve the data to ensure that it cannot be corrupted, as opposed to a single authority, engaging with users. Additionally, dApps like DTSocialise Holding are establishing an ecosystem that gives users the option of anonymity, which keeps their data protected and private, or revealing their data in exchange for payment.
A Solution For Online Privacy
Having said that, cryptocurrency is still in its early phases, thus it is nearly difficult to predict whether these advantages will remain unaffected in the upcoming years. It can also be argued that technologies like blockchain can not assure anonymity and can only do so if users are aware of how to protect their own security, privacy, and freedom, much like they can now in the Web2 era.
Despite this, there is no denying that decentralized businesses are moving in the right path. But for now, we must concentrate on safeguarding our privacy in the present while still remaining informed about cryptocurrencies and the measures they are doing to guarantee a secure and private future.